August 16, Chicago - National Futures Association permanently barred Cornerstone National Brokerage Corp., Option Strategies LLC and David D. Selmon from NFA membership. Cornerstone is an introducing broker (IB) Member of NFA located in Houston, Texas. Option Strategies is a pending commodity trading advisor Member of NFA and Selmon is an associated person (AP) and listed principal of Cornerstone and an NFA Associate. In a Complaint issued by NFA's Business Conduct Committee (BCC), it was alleged that Cornerstone, Option Strategies and Selmon aided and abetted Barry J. Wolf in acting in a manner which required Wolf to be an NFA Member or Associate after Wolf had been permanently barred from NFA. Cornerstone, Option Strategies and Selmon submitted settlement offers in which they neither admitted nor denied the allegations in the Complaint.

In another Decision issued by NFA's BCC, Iowa Grain Company, a futures commission merchant Member of NFA located in Chicago, Illinois, was fined $30,000 after submitting a settlement offer. The Complaint against Iowa Grain alleged that it was subject to discipline for the use of deceptive and misleading promotional material by one of its guaranteed IBs and that Iowa Grain failed to diligently supervise its employees and agents.

Lastly, another NFA Decision orders LMB Trading Group, Inc. to permanently withdraw from NFA membership. The Decision also orders Peter Marrow to withdraw from NFA Associate membership and permanently bars him from acting as a principal of an NFA Member. Brian Marrow was also permanently barred from acting as a principal of an NFA Member. LMB is an IB Member of NFA located in Palm Beach Gardens, Florida. Peter Marrow is the president and an AP and Brian Marrow is a principal of the firm. In a Complaint issued by NFA's BCC, LMB was alleged, among other things, to have failed to maintain required minimum adjusted net capital; failed to maintain adequate books and records; made unsecured loans to its APs while it was below the required minimum adjusted net capital; and failed to list Brian Marrow as a principal. LMB and Peter Marrow submitted settlement offers in which they neither admitted nor denied the allegations in the Complaint.

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